NZ dollar rebounds on hopes of covid-19 receding

Tue, 07 Apr 2020

The New Zealand dollar rebounded as markets, particularly equities markets, took hope from signs that new infections with the covid-19 virus are starting to taper in some of the worst-hit places such as Italy, Spain and New York. The kiwi was trading at 59.82 US cents at 5pm in Wellington from 58.73 at the same time yesterday while the trade-weighted index was at 68.63 from 67.77. "With interest rate differentials at virtually nothing now, the New Zealand dollar's now a proxy for risk," said Mike Shirley, a dealer at Kiwibank. That mea...

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